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the late-day selloff? most on the street blaming these words out of washington about fiscal cliff. >> there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. >> as we head into the fiscal cliff negotiations, my advice to the president would be seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. >> behind closed doors. even with the fiscal cliff looming over the markets, our own jeff cox with cnbc.com says there's a growing bit of optimism about the outlook for next year. take a look at some of the predictions from some of the street's biggest names regarding the s&p 500 for next year. it's quite a chapg for morgan stanley, by the way, whose 2012 forecast was for the s&p to close at 1167 on december 31 of this year. >> wow. they're expecting a mega rally next year. >> he hates having to co
on unions trying to block spending cuts and the fiscal cliff deal while making sure the rich pay more. jeff flock with union back protests at wal-mart stores and diana on the dirty little secret those unions are not changing wal-mart workers. first to rich and some in washington, d.c.. how unions trying to persuade democrats to avoid spending cuts? >> with a significant lobbying effort on capitol hill and a new advertising campaign targeted at democratic and republican lawmakers in pennsylvania, virginia and missouri. the basic message is don't touch entitlements in the fiscal cliff tops we're having on capitol hill. honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. as for the effectiveness of this campaign one conservative says this type of pressure from unions is nothing new. >> the fact that they are publicly saying what they have been privately saying helps the american people understand where obama's in trend and comes from
the move, a lot of worries about the fiscal cliff, the european sovereign debt crisis. we have some mideast tensions right now. gold at this level is very attractive. liz: we are also looking at oil, to see oil down a couple of dollars here, for example with natural gas down a couple of percentage points. look over the january contract, but what is it like with energy when you don't have any meaningful weather except off on the west coast? >> the weather has been taking a backseat. you're really seeing the fluctuations based on what is going on with the equities and was going on on with the fiscal cliff. i think if things are not hammered out before christmas, there will be a big selloff in stocks, commodities, gold. wait and see what actually will happen. good that there is an optimistic outcome but until we actually see everything ironed out, the devils are the details. liz: $0.58 not a huge deal. these two words, in the morning using the word optimistic and president obama using the word "christmas." and there it is. the drama that has become an intraday picture. we are up 72 points righ
a dark fiscal cliff. a new government report warning is an increase in texa taxes wod crush the middle-class spending. the dow down 70 points. it seems republicans are changing their tune on taxes. i don't know. lou dobbs with us as more congressional leaders break from the antitax pledge. and two years after the signs in cairo they look the same. mohamed morsi moves for absolute power sparking violent clashes in the streets between his supporters and opponents. but first, it is time to check stocks as would every 15 minutes, let's head to the floor of the new york stock exchange. nicole, the market is down and out on the fiscal cliff. i'm afraid. nicole: there's a lot going on on wall street. selling across the board, down 72-point at the lowest .12900, so about 40 points off of the earlier lows, however we are seeing selling from sector to sector with its banks or drugs or retail. the areas that have been pretty good our technology, semi conductors holding on, utilities giving it a go after selling off on concerns of the fiscal cliff of his utilities is a group that paid h
in the fiscal cliff tops we're having on capitol hill. honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. as for the effectiveness of this campaign one conservative says this type of pressure from unions is nothing new. >> the fact that they are publicly saying what they have been privately saying helps the american people undetand where ama's in trend and comes from but nothing has changed. >> the issue i in the fiscal cliff discussion democrats appear willing to put entitlements and spending on the table. republicans saying they're willing to do tax revenue and that could be or would be the key to any agreement to avoid the fiscal cliff and get the country's books back in order. gerri: you will be covering this for a long time. thanks for that. this black frida wal-mart shoppers think protests, it is not a superstore workers on the picket line. jeff flock joins us with more. ff: a few of them but the majority were not wal-mart worke
. the money they're paying out to shareholders ahead of the fiscal cliff wall to get the dividend ahead of the higher tax rate, so costco joins many come over 100 companies that have done much of the same. paying out dividends so you can pay less taxes. melissa: thank you so much. lori: so thoughtful of the company. president obama invited middle-class americans to the white house to showcase those would be most affected a certain tax cuts are not extended. peter barnes live at the white house. >> 85 middle-class taxpayers joining the president at this event part of a pr push to drive them to extend tax cuts for middle-class taxpayers let them expire for wealthier taxpayers. take a listen. >> optimistically i don't think we will get it done tomorrow. but if everybody here goes out of their way to make their voices heard and spread the word to your friends and families and coworkers and neighbors, i am thoughtfudoubtful that we will t done. >> the president meeting with 14 ceos, second such meeting in the last two weeks including the ceos of yahoo, merck, coca-cola and at&t. and lloyd gl
off the fiscal cliff. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. is it a negotiating ploy or really what president obama beliefs can happen? the president may be going down a new path tonight in deficit reduction efforts. it's a path that is sure to lead to many obstacles from the other side. chief white house correspondent ed henry has the new developments in a time sensitive story. >> in a dramatic move today, president obama seemed to be trying to split the budget talks to two pieces. suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put
>>> good morning. i'm chris jansing. two big showdowns today on capitol hill over the fiscal cliff and ambassador susan rice. both of these have been escalating, and on the fiscal cliff especially the clock is definitely ticking. let me give you a rundown of what's happening in the next couple hours. first, ambassador rice is meeting with two republican senators today. right now she's in with susan collins of maine. later she'll meet with bob corker. yesterday, too, she was on the hill defending herself over her comments following the benghazi attack, but the gop leaders only seemed more entrenched in their opposition. in addition, anytime now house democrats and house republicans will hold separate news conferences to talk about their closed-door meet ings on the fiscal cliff. at 11:30, president obama will make remarks at the white house surrounded by middle class americans who he says would see their taxes go up if congress can't make a deal. later he's hosting big business leaders to talk about ways to cut the deficit. joining me to talk about this, "washington post" political
tomorrow. a reversal of fortune on wall street as stocks trade on fiscal cliff comments from president obama and john boehner. here's how we finished the day on wall street, near the highs. up 105 points. 12,983. we'll have technicians looking at this day, seeing if it's a key reversal. the s&p also in positive territory. market driven by headlines and bluster out of washington. yep, that's what investors should expect short term. maybe until january 1st. should they also expect a rally any time soon? according to ryan dieterich, rally could most definitely be headed our way. >> he joins us now to explain along with peter anderson from congress asset management company. bill mcvail from turner investment partners and our very own rick santelli. peter, i have to begin with you. with a name like congress asset management, is congress going to come through for your assets? >> well, i wish i had an inside scoop on that, but unfortunately, we're also left to speculate at this point. but i will say this. what's incredible about this market is the way the market moved up today, it's an instan
the right thing about the fiscal cliff deal, boy, will these markets turn on a dime and i would like to be optimistic. neither taxes nor spending nor entitlements were solved today. in fact, president obama never even mentioned the word spending. the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm
to "power lunch." it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned a corpser? >>> speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to the fiscal cliff. will a deal be done in time? today
that was very premature about the fiscal cliff. we still see little or no movement on a deal. president obama might want higher rates and cap on reductions for more tax revenues. that could be a deal-breaker and the markets won't stand for long while nothing gets wrong. i don't want to be overly pessimistic. i'm trying to be realistic. i'm reporting what i'm hearing. but stocks did rise a bit on news after cease-fire between israel and whhamas. is israel snaf particularly when we know that palestinians and gaza may just rest unand rearm for the next round? >>> finally as you head out into the thanksgiving traffic, ask yourself where president obama still hasn't given the green light to the keystone pipeline that would give us jobs and energy n independence? now a truly bipartisan group of senators is telling the president to make a decision right now. first up this evening, this is the big question. will we get a deal done or might president obama just let us go right over the fiscal cliff, take the recession, and simply blame the gop? this is a serious question that i'm hearing from washingt
of raising taxes in the face of the fiscal cliff. >>> courageous until the end. a former mayor in mexico who fearlessly stood up to the drug cartels found murdered. >>> and face-to-face behind closed doors today, u.n. ambassador susan rice takes on one of her sharpest critics, senator john mccain, over her actions after the benghazi attack. good morning and welcome to "early start," i'm deborah feyerick in for john berman. >> really nice to have you. >> i'm so glad to be here. >> i'm zoraida sambolin. it's 5:00 a.m. in the east. first, congress back to work, and back to bickering. in just under 35 days, america hits the fiscal cliff. that triggers severe spending cuts and tax hikes. several top republicans are now defying party politics and signaling a willingness to consider increasing tax revenues to get a budget deal done. but when the lame duck senate got back in session yesterday it sure sounded like the same old broken record. >> the senate has spoken. president obama has spoken. he's promising he will not sign any bill that mortgages our future to pay for handouts to the wealthiest 2%
to u.s. leaders negotiating over the so- called fiscal cliff about the serious financial impact looming on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they
away from the fiscal cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations sent this letter to top lawmakers urging congress not to increase taxes writing, "we strongly urge
this one to sell his plan for dealing with the fiscal cliff, we will hear from the president at the white house this hour. connell: and the powerball lotterr everybody is talking about is creating a frenzy, but we have a reality check today with another big story we have been following. it would run the government for an hour and 15 minutes. dagen: and it would last me for half a year. charlie gasparino on the future of the firm and the leader. connell: we start things off with nicole petallides. stocks nowwevery 15 minutes. dagen: good morning. nicole: good morning. we are certainly embedded that3 story. but i wanted to take a look at the broader market. you see they are improving some. pertaining to the fiscal cliff, it really is a market moving event. you have john boehner talking but he is optimistic a deal can be reached. this comes on the heels of yesterday when you had harry reid expressing caution about the fact things ar were nt going that well. we are seeing the market to the downside, they have improved and you can see it spiked up. alaska mitra said to them. dagen
't want to tip them off. we need to let this go. the fiscal cliff and jobs are far more important. >> and let's talk about the fiscal cliff and jobs. in your time in california you worked on in the state assembly, a state hit hard by a fiscal y crisis. >> i sure did. >> i want to talk to you about something you said in terms of medicare reform and medicaid. obviously republicans are saying, look, in exchange for any type of taxes going up, we want to see some real entitlement reform. you talk about cracking down on waste, fraud and abuse. is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to
are triggered by the fiscal cliff. democrats and republicans appear stuck on entitlement reforms. democrats don't want deep cuts to programs like medicaid, medicare, social security. some republicans say it's the only way to get a deal. >> the reason we're having these negotiations is because washington democrats have spent money without any care for the cost or the future. and refuse to do anything to protect long-term spending programs like medicare, a failure that's among the biggest single drivers of our debt. >> one out of three people in this country are going to rely on medicare and head cade for their health insurance. so we need to find ways to preserve these programs. >> senator durbin says the debate over entitlement programs should be fought after the new year. he's going to join us in a few minutes to talk about it. >>> police on new york's long island investigating a deadly bus crash, a 6-year-old boy was killed last night when the driver of that bus lost control and went barreling into the front bedroom of the boy's home. police say the bus driver swerved to avoid hitting a pedes
-- can we avoid the fiscal cliff. can we get ourselves back on the right track, if you will, without raising taxes -- without getting rid of the bush tax cuts for the wealthy? >> i think -- it doesn't add up. you get about $750 billion from loopholes. that doesn't get you near -- >> bill: bill clinton said in charlotte, it is arithmetic. >> it's math. >> bill: right. you mentioned -- i want to come back -- the other thing the republicans have put on the table, of course, is entitlement. they will only consider new revenue if democrats come forth with entitlement reform. by entitlement reform, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing pr
, the fiscal cliff negotiations will heat up. now the speaker of the house has thrown a new problem into the talks, can a deal actually be reached? >>> shoppers looking for their own kind of grand bargain today. we're going to look at the black friday crush at shopping malls and super stores all over this country. but we start this hour with breaking news in egypt. you're looking at live pictures of tahrir square in cairo after the new egyptian president morsi gave himself sweeping new powers today. tahrir square also the heart of last year's uprising. demonstrators filled the streets of alexandria later today. morsi's new powers put his own decisions above all legal challenges until a new egyptian parliament is elected. despite the protests, morsi moving ahead with his plans at the same time insisting that his new powers are for the good ofu issued a statement moments ago saying in part, quote, we call for calm and encourage all parties to work together and call for all egyptians to resolve their differences over these important issues peacefully and through democratic dialogue. ji
a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on there. that was very
have a fiscal curve/cliff/mole hill, however you choose to describe it, that includes, of course, the bush tax cuts, but also, the bigger piece is sequestration and the payroll tax cut again. another fight the president has had before. what do you make of his focus only on the bush tax cuts and specifically the middle income earners. >> this was a theme throughout the campaign, something he came out early on and hit hard on. it underscores this larger issue about inequality in this country which is an economic problem. you can't have a sustained recovery when 98% of the population hasn't gotten a raise in the last few years or decades depending on who they are. i think people are starting to focus on that. i think this issue of taxes is crucial of that. i think if we're going to go to the other cuts that need to happen, the entitlement reform you need to have a sense from the population that the rich are doing their part, that there is a sort of social cohesion. you can look to europe and see what happens when you don't have that. >> the president spoke in his comments effectivel
is that we get a fix for the fiscal cliff maybe early january, maybe we go over the cliff for a couple days. and i think the political pressure then to fix it would be intense because of the amt shock. normally 4.5 million pay pay alternative minimum taxes. if we didn't fix this on the 2012 income, what's due in 2013 will be additional taxes of several thousand dollars by an extra 28 million households. 33 million instead of 4.5 million on 2012 taxes. if you're going to file your tax return in january and you expect a refind, if you're in the 75,000 to 300,000 income bracket, forget about it if they don't fix that amt. so i think senators will get calls from a good portion of 28 billion households saying what are you doing raising my taxes. i never withheld. are you going to penalize me because you didn't fix what you fix every year? i think that amt shock is going to drive -- if we go over the fiscal cliff, it will drive a very, very fast fix. but then we'll just have a small bargain later this year. there's not going to be a grand war bargain. >> that could be the worst case scenario is j
leader summit last week says that the looming fiscal cliff is already impacting his business. >> right now i'm not that bullish at all. in fact i'd say there's a great uncertainly that's just hanging over the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services
, and the message no entitlement reform in any fiscal cliff deal. and more, ollie north on record gun sales, mike reagan on california and isaacs on warren buffett. here we go. "varney & company" is about to begin. looking for a better place to put your cash? here's one you may not he thght of -- fidelity. now you don't have to go a bank get the things you want from a bank, like no-fee atms all over the world. free checkwriting and mobile deposits. now depositing a check is easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account day and discover another reason >> wednesday, november 28th a bombshell report from forbes this morning, 11 states are in a death spiral. don't buy a house and don't invest in their municipal bonds. california, new york, illinois, of course they're on the list and smaller states like mississippi and new mexico also on that death spiral list. and the problem with the states accord to go william baldwin, he wrote the story, more takers than makers and all have
approach on the fiscal cliff, saying the elect is over. it's time to stop campaigning and start talk. some republicans are telling the president, show us your hand. martha: not over the cliff yet but perhaps headed there. good morning. i'm martha maccallum. the minority leader mitch mcconnell called the president out for what he says is a campaign-style blitz instead of negotiations between both sides. >> rather than sitting down with lawmakers and working out an agreement he's back on the campaign trail. we are not going to solve this problem by creating villians and drumming up outrage. >> he will be out trying to i'm sure zero in on those states represented by members of the house and the senate to try to get public support. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be w
to tackle the tough fiscal cliff and make decisions about taxes, spending, and budget cuts. states are looking at how they can be affected. a question for you this morning, whether states should have a say in budget talks. here are the numbers to call. if you can also find us online. here is the headline in "the new york times." the pew center has a new study out called "the impact on the fiscal cliff on states." here is what it says. we would do more into these and how they will specifically affect states on an individual basis. there is a question on whether the fiscal cliff would hurt. it says -- our question for you this morning is whether the states should have a stake of in negotiations. looking more in the story "the new york times." it says -- some of the benefits states could receive, nobody is retained that president obama and republicans in congress will fail to reach an accord because they feel -- they fear that the resulting combination of spending cuts and tax increases could prompt another recession, which their states can ill afford. let's go to houston, texas and h
house speaker john boehner and harry reid this weekend for avoid efforts on fiscal cliff. on wednesday president obama will seek more input from top ceos, including gold man's lloyd blankfein and caterpillar's doug owner hill man. a number will travel to washington to try to reach a deficit cutting deal as part of the fix the debt campaign. so all things fiscal cliff still pre-dominate. we have a time clock that's quickly running out. how important is it that we get an agreement before the end of the year? >> this is like the debt ceiling argument. people got into a panic. that's something we even imposed on ourselves to decide that the debt shouldn't go too high. so it's not a bad thing. same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't jus
. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >> it's going to sell that fiscal cliff. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for american progress where he said this about the possibility of going off the cliff which fears of this show know is is really more of a curb than a cliff. >> some have called let's go over the cliff and watch what happens. we know if we're not careful, it will in fact stop economic growth and hurt everyone through every income category, particularly those most vulnerable. >> what he did not say is he must not go off the cliff. because the cliff is is pre
the fiscal cliff? >> everybody agrees. >> going over the fiscal cliff will hurt our economy and will hurt job creation in our country. >>er -- every family in america will see their taxes automatically go up at the beginning of next year. >> shepard: so how to avoid that. >> the president and congress will either fail together or we will succeed together. >> there has to be a deal. there has to be an agreement. >> and if they can't come up with a compromise, we are all going to pay the price. plus, they are some of the biggest names in baseball. bonds, clemens, sosa. all three tainted by accusations they used performance enhancing drugs. but should that keep them from cooper's town? tonight, the great debate over baseball's hall of fame ballot but first from fox this wednesday night, the president hopes who have the framework of a deal to avoid the so-called fiscal cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make
they are republicans. then theyou have republicans. i don't see how we can survive this fiscal cliff if john boehner does not follow the lead of the president. he said a couple days ago we have to put obamacare in a position to and take some cuts from it. that's crazy. john boehner and mitch mcconnell and all of them have given the president a hard time. that's why we voted for these people and they are supposed to do our bidding, because people are hurting. host: let's take it to the state level in a carolina, state legislature, republican governor, republican. what are the big ticket items they will start working on? caller: i don't think the governor knows himself. he claimed that he will bring relief to the state. i don't see how he's going to do it. they are going to cut a lot of social programs that they call wasteful spending. people are going to really see what he's made of. what is your name again? host: what is that? caller: pope was the one along with the koch brothers that got it mccory into office. they are bought and paid for. they don't do the people -- everybody needs to be represent
. congressional leaders are hoping to hammer out a deal to avoid the fiscal cliff. it is clear that the lawmakers are strug struggling to find a common ground. but some are saying there is a compromise. >> the stock market rallied amidst the talk of a possible deal being made. but independent senator joe lieberman is saying there is no done deal. he says, if congress does nothing, which they have gotten pretty good at, we will go over the fiscal cliff. the republicans have conceded that the government needs to find new ways to take in more money and now the fight is centered on where to get it from. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come from an increase on the tax ra
. >> now, here is the question. has president obama put this s fiscal cliff plan on the table. one member of the senate says it is time for president obama to tell america what this man is. that senator is pat toomey of pennsylvania. he is going to join us here in 25 minutes. next up is the republican party about to lose it's soul and principles over the fiscal cliff debate. why is nobody talking ip t inin media about spending cuts. let's talk to brent great to see you on the show. thank you for coming. let me start with this thought. over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting obamacare out
the 23 year olds, look, are you going to stop spending or cut back because of the fiscal cliff. i'm out there enough already. i can't even go to that level of being out there. >> you can't? >> no, i can't. i can't. i'm a fixture at every mall in the country. this mall of america there was a guy. mike didn't work initially. you handled that so well. the mike didn't work initially for mall of america. >> i threw to him on friday. while you're shopping you still managed to watch us. amazing. >> and miss you? it was just like you didn't skip a beat. like you had actually been to a mall. >> you knew i had never been to a mall. >> i know you have been to a mall. >> what mall? >> time warner center is that a mall? >> that counts as a mall. >> i've been in there. there's a j. crew there. >> yes. yes, there is. i think whole foods also had a big week. >> i do shopping for the night before i head home. >> it's antidotal. it's antidotal. it was supposed to be bad. it wasn't bad. that's my take away. i don't want to deviate from that. i saw an upgrade today. restoration. all of these companies have
both hint that a deal to avoid the fiscal cliff is on the way. possibly in time for santa. i asked republican john cornyn whether he thinks that is a reality. >>> and governor romney sits down with the president since the election, actually since the debates. does this do either of them any good? rick santorum is out front. and julian assange is out front to answer critics and our questions tonight. let's go "out front." >>> good evening, everyone. i'm erin burnett, outfront tonight, an early christmas miracle. or at least the glimmer of one today. barack obama bringing glad ti tidings of great joy to avoid the fiscal cliff. >> i will go anywhere and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those presents. no smile from either one of them. but investors didn't care, they're excited about the present,
the fiscal cliff. >> yes. >> there's a new one no tall, no water. two more songs. i'm like i can't see. >> no water? that's in sane! are they trying to kill people? >> did i tell you the other one? sweat is fat crying. >> i would just walk out right there. i can't deal with that crap. >> you have to keep your heart rate up, it's a test to see if you can make it through another song without towel or water. >> i don't need pithy sayings to keep my heart ray up. >> good morning everybody. u.n. ambassador susan rice is meeting with senators john mccain lindsey graham and kelly iop. they have been critical of her remarks in the aftermath of benghazi. she described that as a spontaneous attack based on the in tell she had from the intelligence community. there could be some substance to the plan that president obama plans to nominate her for secretary of state. she will meet with other lawmakers later this week. president obama has been unwaiving in his support of her calling republican attacks on her outrageous. >> according to official announcement, the president of mexico and the presiden
of a compromise as we head for the fiscal cliff? senator lindsay graham, one of the latest high-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one
ground on the fiscal cliff? oklahoma's tom cole, a member of congress says the grand old party should take president obama's party. doo extend bush tax cuts for all but the top 2%. that's a sign some republicans may be open to higher rates for the rich. >>> is it possible negotiators could learn something from the most important movie out there right now "lincoln." doris good win joins us. >>> let me finish with how lincoln outlawed slavery for good and how de it using politics. this is "hardball," the place for politics. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? he loves risk. but whether he's climbing everest, scuba diving the great barrier reef wi
. >>> president obama meets with small business owners today to promote his solution to the fiscal cliff. the deadline is now 35 days away. the president is holding more events tomorrow and friday. "new york times" reports this morning that a budget deal could reduce the tax deduction millions pay on their mortgage interest. nancy cordes is on capitol hill. good morning. >> reporter: good morning to you, charlie, and norah. the president and house speaker john boehner spoke by phone over the weekend. top aides in the house and senate tell us that negotiations at this point are just taking place between the president's staff and speaker boehner's staff. that's because any deal that involves raising tax revenue is going to face its biggest challenge in the republican-led house. top republicans returning from thanksgiving recess urged the president to make the first offer in fiscal cliff negotiations. and they expressed a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they g
on thanksgiving day? we're going to get some new perspective. the fiscal cliff, might a new wrinkle make it even tougher for the two parties to make a deal? it is one of the big hits of the season, the new film about abraham lincoln, and coming up, a unique take from doris kearns goodwin who wrote the book. imagine if this were your neighbor. one holiday display is drawing a lot of attention. that is in our one-minute playback. wow. good morning, everyone. welcome to "weekends with alex witt." let's get to what's happening right now out there. we have some new numbers today. as retailers begin to calculate black friday sales and whether it paid off to open on thanksgiving. all that, plus today is small business saturday, and cyber monday, of course, happens in just two days. nbc's michelle franzen is in n manhattan. >> alex, we've gotten through the first wave, the black friday, include being the early start that began on thanksgiving evening. so how did everything turn out? well, retailers say so far, so good. they saw a wave of people coming through, a rush of shoppers going through those do
, obama launches p.r. effort on cliff the fiscal cliff, of course. putting pressure on congress, president will talk to small business owners. so here's what's going on. right. with this fiscal cliff looming the president has laid out -- very, very clear what he's talking about, what he wants to see. it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th and mitt romney put forth his plan and the american people said no, we don't like that romney way of going which is to continue to coddle the rich. we agree with president obama. so now the negotiations are underway. abo
of pushing for immigration and fiscal cliff and saving up his capital there? >> reporter: well, it's clear the president is fond of susan rice. you saw that in the press conference after the election. he really forcefully defended her. you saw more passionate people had been waiting for from the president. if there's a time to push someone, the president believes is the best personed to the job, it's after you win the election in a pretty strong way. so the president, i think, if he wants to push her, now is the team to do it. it's interesting that so many senators such as john mccain and lindsey graham oppose her. policy-wise she's closer to them in terms of policy and intervention and human rights than, say, senator john kerry, for example. >> amanamanda, you referenced t press conference where the president went to bat for susan rice. let's actually take a listen to them. >> for them to go after the u.n. ambassador who this nothing to do with benghazi and was simply making a presentation based on intelligence that she had received and to besmurch her reputation is outrageous. when they
against the clock trying to reach an agreement on the fiscal cliff that is fast approaching. the president is trying to ramp up public pressure on congress to accept his ideas for debt reduction in. in the coming days he meets with small business owners, middle class taxpayers, around corporate leaders. friday he tried to recapture his winning spirit in pennsylvania touring a toy manufacturing plant. i don't think the event is in whoville but the republicans as grinch playbook is probably evident enough. to hear some of the president's team, they see this christmas going their way. >> i think we're going to get this done. i'm more positive than most. i'm heartened by many ever my senate republican colleagues who have stepped forward and basically said that their real oath is to america and not to a washington loppiest named grover norquist. >> it's actually true. some republicans have signaled a willingness to buck grover norquist and his anti-tax pledge and raise some new revenue. "the wall street journal" weighed in with a reasonable argument. president obama's re-election means the taxe
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